NEW YORK (S&P Global Ratings) Aug. 2, 2021--S&P Global Ratings said today RealPage Inc.'s (B-/Stable/--) proposed incremental $290 million first-lien term loan will potentially delay deleveraging. The company, a software provider of property management technology solutions, intends to use the proceeds to acquire G5 Search Marketing Inc., a provider of real-estate digital marketing and analytics solutions for multifamily, senior living, and self-storage customers. The issuer credit rating on RealPage is unchanged following the proposed add-on. The 'B' rating on the first-lien term loan is also unchanged, as is the '2' recovery rating, which indicates our expectations for substantial (70%-90%, rounded estimate: 70%) recovery in a payment default. The acquisition will enhance RealPage's leasing and marketing business by providing a better
